Commodification of Knowledge

Commodification of Knowledge

Manahel Thabet
Manahel Thabet

The term “Commodification of knowledge” refers to the transformation of knowledge into a commodity, serving as the capital for the global knowledge system and its principal asset.

It is crucial to emphasize that the realization of the potential of knowledge relies on two fundamental elements: knowledge cities, which are the hubs of the knowledge industry, and the accessibility of both, highlighting the significance of power alongside knowledge. Ancient philosophers articulated that the essence of knowledge lies in the ability to apply it, turning it into an economic force, as that is the ultimate purpose of life. Merely possessing knowledge is insufficient, and the widening knowledge gap poses a threat to the meaningful participation of most developing nations in the new global economy, exposing them to various risks that extend from economic challenges to issues of stability and security. The knowledge gap is not about ownership or lack thereof, but rather the incapacity to manage and leverage it for economic gain. The key lies in turning it into a valuable economic resource, fostering individual prosperity, boosting the national economy, and allowing knowledge to thrive wherever it is harnessed and applied.

The traditional concept of the economy, which advocated preparing for future demands, has evolved into today’s imperative to utilize yesterday’s knowledge as the foundation for present advancements. This involves managing knowledge effectively, transforming it into an economic asset, and establishing knowledge cities and industries. The emergence and expansion of these knowledge cities and technical hubs on a global scale represent a natural response to their pivotal role in steering development and enhancing the economy of nations. Their contribution to increasing GDP and creating job opportunities further underscores their significance.

Mitchell, in his book “Cities of the Future,” argues that knowledge cities will become independent of their spatial or geographical constraints, thanks to the creation of electronic connections facilitated by the internet. This has led to a shift in the dynamics of urban life, altering the role of buildings within knowledge cities. Smart buildings, in this context, play a crucial role in supporting the concept and construction of knowledge cities.

The development of domestic and export markets is a critical factor in the prosperity of knowledge industries. A strategic approach must be adopted to foster knowledge-sharing, recognizing that the revitalization and expansion of markets are essential prerequisites for the sustainability of knowledge industries. However, market mechanisms alone are insufficient; conscious management and awareness are equally crucial. Certain nations, such as the United States and Japan, have successfully generated 50% to 60% of their income from knowledge industries and the export of knowledge goods, demonstrating the efficacy of strategies focused on market development and sound management.

Several strategies and factors can enhance the presence of knowledge commodity industries in any country. This includes the expansion of applied research, development, and technology transfer. Support for applied research is fundamental to information technology, involving the promotion of creativity, innovation, intellectual production, and the encouragement of technological incubators. This entails supporting new ideas and expanding research into emerging technologies, such as nano, to keep pace with the evolving landscape of the world, technological challenges, and updates. Moreover, to delve into the remaining aspects of this discourse.

Author : Manahel Thabet
Published Jan 23, 2022
Al Bayan Newspaper

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